I learn a lot from the questions and dialogue I have with readers and investors around the world. This week’s Q&A highlights include several fascinating questions about individual stocks from Marketwatch The Cody Word readers and from my Twitter followers.

Q. Do you think as many opportunities like you had to invest in AAPL at $7 in 2003 will be as readily available and obvious in the future, or are index funds a better bet due to the slowing growth and innovation in the U.S.?

A. Remember that the Nasdaq was down 80% from its 2000 highs in 2003. Long-time subscribers will remember that I created a basket of stocks that were trading at less than the cash they had on their balance sheets, meaning that the market thought they would destroy value, not create value. Apple was part of that basket and was my biggest play on that less-than-cash theme. In 2008, 2009, the markets were down 60% from their 2007 highs and there were again great stocks trading at less than cash. In 2013, with the markets now up 130% from their highs in 2009, you would be hard pressed to find a decent company trading at less than cash. Index funds are no easy way out either of course. I suggest actively monitoring and maintaining your portfolio using helpful, trustworthy resources and working hard to make it successful over the next 10,000 days.

Q. Apple’s had quite a run. Time to trim?

A. I still think Apple
/quotes/zigman/68270/quotes/nls/aaplAAPL can head closer to $500 a share before weak-handed shareholders start selling because it’s close to their cost basis. On the other hand, you know I always preach taking a little off the table after a big run. So since you asked about whether you should trim some Apple, it’s probably an indication that you’re overexposed to AAPL for now and you probably should look at trimming some down.

Q. I had a large position in AAPL in the $600s on margin last fall. Seeking Alpha and MarketWatch articles all suggested AAPL was ready for a bounce back to the $600s once the end of year selling due to tax concerns ended. What happened, was it more the corrupt institutions and speculators or retail investors who brought the stock to the $500-$300s?

A. I don’t think it was corrupt institutions that kept AAPL from getting back to $600 last year. There are thousands upon thousands of investors and traders, both professional and retail, who loaded up on AAPL after it fell back from $700 into the low $600s and then on into the mid $500s. The stock is only worth what someone else is willing to pay for it on the day you go to sell it, and there just weren’t any buyers willing to step in and load up on AAPL on size when it got caught in that downdraft. So the technical guys, the bears, and the short sellers out there were all either shortselling more or staying out of the way as it fell to the $400s. And all those retail and professional investors/traders who were long AAPL from $600 or $550 couldn’t find any one to sell their shares too at the price they’d paid. So they start selling it too, until the cycle stops and we can get back to seeing AAPL likely trading based upon fundamental growth and valuation.

Q. I have a First Solar FSLR question. I luckily sold it all when you recommended we trim, really just to free up some cash, so now down 9% or so, should we pick it back up? I heard the end of 2013 is supposed to be better for them.

A. I like First Solar
/quotes/zigman/102025/quotes/nls/fslrFSLR after its selloff more than I did when I was trimming it at those recent highs. And yes, I think FSLR could go much higher over the course of this year and next. But I do think the company will need to show continued steady strong growth and earnings power to keep the momentum going. I’m worried that the FSLR might be a little bit crowded here right now. So I’ll be patient before buying any of the shares I sold higher back.

Q. The water problems out your way are continuing to get worse every year. Is Lindsay LNN likely to benefit from this?

A. Yes, I think Lindsay is a great play on the long-term need for more water access throughout the world. And man, does New Mexico need some rain, rain, rain. My 95-year old grandfather-in-law who has lived in Lincoln County his whole life told me this weekend that he’s never seen it this dry this time of year and he said he said that last year for the first time ever too. And this year is worse.

Q. I thought regulators were finally going to show JPMorgan Chase JPM a thing or two, and maybe they are, but the stock has gone up since the recent headlines!? What’s up with that? I’m short JPM, should I cut and run?

A. The whole market is bubblicious right now, and when the stock markets are like that, the big banks usually participate. I remain short a small position in JPM and will someday look to add to it. Depends on your risk tolerance, but I’m sticking with it, because the company’s cockroaches are scrambling in good times like this. Imagine how many bugs you’ll see crawl out of that place when the markets tank next time.

Q. I’m interested in getting back into FutureFuel FF. After a solid report, where do you see it going from here? Would you advise getting in now or wait for the next pullback?

A. FF reported a decent quarter last night, with great topline growth. In a small company that’s growing fast like FF is, I care more about the topline growth than the bottom line reported earnings. That said, there was too much tax-subsidy (ie, welfare) recognition in the earnings and that makes me sick to my stomach that this company needs welfare to sustain its valuation. That said, FF is paying a nice dividend here and I do think their industry of biofuel is going to be big in 10years, so I’m sticking with FF for now. I always suggest starting to scale into a stock you want to buy and then use weakness to add to it over time.

Q. No real problems with Amazon AMZN after the tax bill passed the Senate (or the house can’t remember). Any concerns there? I don’t imagine there would be, it’s still easier to pay the same price as retail stores and have it delivered instead of spending gas and time to go get it.

A. I agree with you that the online tax issue is a distraction. AAPL, GE, JPM and every other corporation should have to pay too (and the aforementioned welfare-dependent FutureFuel too!). Anyway, I’m sticking with AMZN no matter what happens with the Internet tax bill.

Q. Any thoughts on Tesla TSLA? I’d love to hear your perspective.

A. TSLA’s entire business model depends on continued welfare for people rich enough to buy new electric cars. I want to short TSLA so bad I can taste it, as that company will crash when their subsidies run out. Then again, those welfare checks for rich environmentalists in new cars are in no risk of running out any time soon. Tesla’s probably going higher in the mean time.

Cody Willard writes Revolution Investing for MarketWatch and posts the trades from his personal account at TradingWithCody.com, which is not affiliated with MarketWatch. At time of publication, Cody was net long Apple, Amazon, First Solar, FutureFuel, and Lindsay and net short JPM. Follow Cody on Twitter at twitter.com/codywillard.

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About The Cody Word

Cody Willard writes the Revolution Investing investment newsletter for MarketWatch and posts the trades from his personal account at TradingWithCody.com He is the founder of WallStreetAll-Stars.com and the principal of CL Willard Capital. Cody serves as an adjunct professor at Seton Hall University and is on the University of New Mexico Alumni Board. He was an anchor on the Fox Business Network, where he was the co-host of the long-time #1-rated show on the network, Fox Business Happy Hour. Cody, a former hedge fund manager, and his stock picks and economic outlooks have been featured on NBC’s The Tonight Show with Jay Leno, ABC’s 20/20, CBS Evening News, CNBC’s SquawkBox, Jon Stewart’s The Daily Show, as well as in the Financial Times, Wall Street Journal, New York Times, and many other outlets.